finance
Southeastern Asset Management, Holder of 4% of Mattel, Urges Company to Explore a Sale
The investor managing 4 percent of Mattel’s stock sent an open letter to the board calling for a sale to a private equity firm, toy competitor or media company. Mattel shares stood at $15.41 on Friday morning after a 2 percent rise. The company responded that it would consider the views while focusing on its existing intellectual property.
May 8, 12:45 PM·2m read1 source
Los Angeles TimesAudio version
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Southeastern Asset Management, which manages 4% of Mattel’s stock, sent an open letter to the company’s board and other shareholders on Thursday, May 7, 2026, urging it to sell itself. The letter, originally sent to Mattel CEO Ynon Kreiz in mid-March 2026, stated that Mattel should sell to a private equity firm, a toy competitor or a media company.
Southeastern Asset Management said Mattel’s current strategy would make shareholders wait too long for the stock price to reach $30.
“We do not want to wait longer for that to be realized,” the firm stated. ” The investor suggested private equity firms as potential buyers, noting they have expressed interest in Mattel for years. It stated that if Mattel delisted it wouldn’t have to worry about quarterly reports or annual expectations.
41 as of Friday morning, May 8, 2026, after rising 2% from Thursday’s close. The shares have fallen more than 20% in 2026. The pressure from Southeastern Asset Management comes after a difficult period for the toy maker.
Mattel announced it was laying off 65 employees shortly after mid-March 2026. The company has laid off hundreds of employees in the past year and a half as of May 2026. It announced weak holiday sales in 2025, in part due to disappointing Barbie sales.
3 billion last year, down 1% from the year before. Southeastern Asset Management noted that Mattel and Hasbro have been in talks for years. “We believe synergies between the two companies would be material, creating a stronger player in a global industry,” Southeastern Asset Management stated.
